Re-denomination of the Iranian currency by removing four zeros will be discussed in a future Parliament session. If approved, it will be sent to the Central Bank for implementation. This process may take two years.

If and when approved, the new notes will co-circulate with the current ones, which will be remain in circulation until they become unfit, Thus, other than the cost of preparing the designs and plates for the new notes, there will be no additional expenses.

Source: theiranproject.com

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